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INTERNET banks in the 10th Federal Reserve district seem to have profitability experiences similar to those of nonInternet banks, reports a Fed economist, even though their expenses are significantly higher. "Internet banks appear to be successful at generating sufficient revenue, such as fee income, to overcome additional expenses," reports economist Richard J. Sullivan in "Financial Industry Perspectives 2000." Sullivan says banks do better with Internet banking when they introduce into markets with the right demographic and economic characteristics and when it complements their business strategies.
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Title Annotation:profitability of online banks compared to non-Internet banks
Comment:INTERNET.(profitability of online banks compared to non-Internet banks)
Publication:ABA Bank Marketing
Article Type:Brief Article
Geographic Code:1USA
Date:May 1, 2001
Words:85
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